Shares of Facebook (FB) are up 42 cents, or 1.6%, at $26.33 after BMO Capital's Daniel Salmon raised his rating on the shares to Outperform from Underperform, and raised his price target to $32 from $15, writing that Facebook "has improved its outreach to Madison Avenue," which could help its advertising efforts.

"We believe Facebook's advertising platform is currently gaining momentum with both traditional brand...